Eldorado Gold Corporation (EGO) Shares Down 1.6%

Eldorado Gold Corporation (NYSE:EGO) (TSE:ELD) dropped 1.6% during mid-day trading on Wednesday . The stock traded as low as $1.22 and last traded at $1.27. Approximately 3,099,154 shares traded hands during trading, a decline of 59% from the average daily volume of 7,482,850 shares. The stock had previously closed at $1.25.

EGO has been the topic of several analyst reports. ValuEngine cut Eldorado Gold Corporation from a “hold” rating to a “sell” rating in a report on Friday, September 1st. Credit Suisse Group cut Eldorado Gold Corporation from a “neutral” rating to an “underperform” rating and set a $2.40 price objective on the stock. in a report on Monday, July 31st. TD Securities set a $4.00 price objective on Eldorado Gold Corporation and gave the stock a “buy” rating in a report on Friday, October 20th. Zacks Investment Research cut Eldorado Gold Corporation from a “hold” rating to a “sell” rating in a report on Tuesday, September 12th. Finally, Royal Bank Of Canada cut Eldorado Gold Corporation from an “outperform” rating to a “hold” rating and decreased their price objective for the stock from $3.00 to $1.75 in a report on Tuesday, October 24th. Five investment analysts have rated the stock with a sell rating and seven have assigned a hold rating to the company’s stock. Eldorado Gold Corporation has an average rating of “Hold” and an average price target of $2.93.

Eldorado Gold Corporation (NYSE:EGO) (TSE:ELD) last issued its quarterly earnings data on Thursday, October 26th. The basic materials company reported ($0.01) earnings per share (EPS) for the quarter. The business had revenue of $95.35 million during the quarter, compared to the consensus estimate of $100.63 million. Eldorado Gold Corporation had a positive return on equity of 0.52% and a negative net margin of 5.02%. The company’s revenue for the quarter was down 18.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.03 earnings per share.

Large investors have recently modified their holdings of the stock. Balyasny Asset Management LLC boosted its holdings in Eldorado Gold Corporation by 43.7% in the second quarter. Balyasny Asset Management LLC now owns 45,641 shares of the basic materials company’s stock worth $120,000 after purchasing an additional 13,889 shares in the last quarter. Shell Asset Management Co. boosted its holdings in Eldorado Gold Corporation by 2,884.9% in the third quarter. Shell Asset Management Co. now owns 780,973 shares of the basic materials company’s stock worth $5,896,000 after purchasing an additional 754,809 shares in the last quarter. Intact Investment Management Inc. boosted its holdings in Eldorado Gold Corporation by 83.9% in the second quarter. Intact Investment Management Inc. now owns 5,351,900 shares of the basic materials company’s stock worth $18,196,000 after purchasing an additional 2,441,800 shares in the last quarter. Commerzbank Aktiengesellschaft FI boosted its holdings in Eldorado Gold Corporation by 15.9% in the second quarter. Commerzbank Aktiengesellschaft FI now owns 1,848,322 shares of the basic materials company’s stock worth $4,880,000 after purchasing an additional 253,684 shares in the last quarter. Finally, Creative Planning boosted its holdings in Eldorado Gold Corporation by 411.2% in the second quarter. Creative Planning now owns 373,893 shares of the basic materials company’s stock worth $987,000 after purchasing an additional 300,752 shares in the last quarter. Hedge funds and other institutional investors own 55.47% of the company’s stock.

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Eldorado Gold Corporation Company Profile

Eldorado Gold Corporation (Eldorado) is a gold exploration, development and mining company. The Company’s geographical segments include Turkey, Brazil, Greece, Romania and Other. The Turkey segment includes the Kisladag and the Efemcukuru mines and exploration activities in Turkey. The Brazil segment includes the Vila Nova mine, Tocantinzinho project and exploration activities in Brazil.

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